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Cryptocurrency News Articles
Pepe Coin: Smart Money Buys 143 Bln PEPE, $0.00001 On The Horizon? | Dmartpreneur
May 06, 2024 at 02:02 pm
Amidst the volatile price movements exhibited by Pepe coin in the last 24 hours, a strategic move by a smart money entity to accumulate a substantial amount of PEPE has ignited a wave of optimism regarding the token's future price trajectory.
Pepe coin, already riding on a bullish market trend with a nearly 20% weekly price rally, has become the subject of intense speculation, including the possibility of reaching the highly anticipated level of $0.00001 in the near future.
A multitude of bullish factors are converging on the horizon for Pepe coin, fueling the optimism and promising potential gains for investors. Here's an in-depth analysis of these influential factors:
Smart Money Accumulation Injects Optimism:
A blockchain analytics platform, Lookonchain, has provided valuable insights into a notable transaction involving a PEPE smart money entity. On May 6th, this entity allocated 1.26 million USDC to acquire an astonishing 142.96 billion PEPE at a price of $0.000008831.
The smart money, operating under the address 0x2db3fb.., has garnered significant attention with its strategic accumulation strategy. Its trading history reveals a remarkable win rate of 85.7%, indicating a high degree of success in its investment endeavors.
Over the past six months, the smart address has traded PEPE seven times, with six of those trades resulting in profits. Having accumulated gains worth $915K from previous PEPE acquisitions, today's purchase has further fueled optimistic sentiments surrounding the token's future price movements.
Moreover, recent reports by CoinGape Media have highlighted a substantial increase in cryptocurrency whales acquiring Pepe coin as part of their strategic investments. This collective action paves the way for a potential bullish rally for PEPE in the future, reflecting the confidence of large-scale and strategic investors in the asset's promising prospects.
PEPE Price Rally to Continue?
At the time of writing, PEPE's price has experienced a 0.82% increase over the past 24 hours, currently standing at $0.000008565. Its 24-hour lows and highs are recorded at $0.000008285 and $0.000008817, respectively, indicating a fluctuating price movement between red and green territories.
However, data from Coinglass depicts a 3.19% rise in the token's open interest, reaching $94.28 million, further supporting the optimistic outlook. A recent analysis of PEPE's price movements by CoinGape Media also draws attention to the formation of an inverted head and shoulders pattern, a bullish pattern evident on the token's chart.
Collectively, these factors suggest a favorable path for PEPE to ascend to the highly anticipated level of $0.00001 in the future, although short-term volatility remains a possibility in alignment with broader market trends. Additionally, it's worth noting that the post-BTC halving rally is yet to materialize, and PEPE is among the potential meme coins expected to mirror BTC's price movements.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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